TUC glum at interest rate decision

The TUC says it
is disappointed with the Bank of England’s decision to leave interest rates
unchanged.

TUC General
Secretary, John Monks, said:

"We are
disappointed that the Bank has stuck with its cautionary approach.
Manufacturing has been shedding jobs at an increasingly rapid rate, with nearly
100,000 disappearing in the last six months alone.

"In the
light of this decision, all eyes are now on the Budget. We are looking for a
positive signal of support for the manufacturing sector with help to boost
training and give extra funding for the regions.

"We
need a strong, positive and forward-looking policy towards the manufacturing
sector to give UK firms the confidence to prepare for the recovery in their
export markets next year. The tentative signs of recovery in the sector must be
built upon to re-balance the national economy and tackle regional inequality.’